Technology Provides First Standardized Nationwide Parcel Database
CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today announced the U.S. Patent and Trademark Office has awarded a patent to the company for its unique ParcelPoint® technology. CoreLogic ParcelPoint technology provides access to a single source for comprehensive, accurate and current parcel, property and tax data for the insurance, energy, utilities and telecommunications industries. The patent is the 13th patent awarded to CoreLogic and the second for the Spatial Solutions team, which previously operated as First American Spatial Solutions. U.S. Patent Number 7,890,509 is titled “Parcel Data Acquisition and Processing.”
“This patent reflects the depth of knowledge our employees possess and their commitment to developing, expanding and delivering key intellectual property to benefit our clients,” said Scott Little, vice president and general manager for CoreLogic Spatial Solutions. “Accurate information is a critical success factor in helping these industries operate efficiently and effectively, and the patented technology provides precision-level insights to help our clients operate productively.”
ParcelPoint data provides the exact area and associated latitudes and longitudes that are vital in identifying a propertys geographic position, as well as key property owner and tax information. The patent covers the method through which parcel data sets, which are provided through public records in various formats, are acquired from these multiple sources, standardized for consistency, and incorporated into a single database to create uniform parcel information for widespread use.
First launched in 2007, ParcelPoint includes data for more than 127 million digitally converted and normalized parcels and points, including more than 2,000 counties in the United States. This represents approximately 90 percent of the U.S. population and 86 percent of the total land base. When used with the company’s PxPoint™ geocoder, a high-precision, parcel-level geocoding and spatial analytic engine, customers can achieve a high level of positional accuracy for any spatial application. More information about ParcelPoint can be found at www.faspatial.com.
CoreLogic (NYSE: CLGX) is a leading provider of consumer, financial and property information, analytics and services to business and government. The company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built the largest U.S. real estate, mortgage application, fraud, and loan performance databases and is a recognized leading provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations. Formerly the information solutions group of The First American Corporation, CoreLogic began trading under the ticker CLGX on the NYSE on June 2, 2010. The company, headquartered in Santa Ana, Calif., has more than 10,000 employees globally with 2010 revenues of $1.6 billion. For more information visit www.corelogic.com.
CoreLogic is a registered trademark of CoreLogic.